Mangalore Refinery opened on the BSE at ₹ 52.65, swinging to an intraday high of ₹ 52.70, and an intraday low of ₹ 51.30, so far.
The share price of Mangalore Refinery and Petrochemicals Limited edged lower by around two percent on Wednesday, May 19, a day after announcing January-March quarter results for the financial year 2020-21. On Wednesday, Mangalore Refinery opened on the BSE at ₹ 52.65, swinging to an intraday high of ₹ 52.70, and an intraday low of ₹ 51.30, in the trading session so far. Mangalore Refinery and Petrochemicals is a subsidiary of Oil and Natural Gas Corporation Limited (ONGC).
Mangalore Refinery reported a net profit of Rs 328 crore in the March quarter of the fiscal year 2020-21. According to a regulatory filing, the firm to the stock exchanges, Mangalore Refinery`s gross revenue from operations stood at Rs 29,788 crore in the March quarter of the fiscal year 2020-21, as against ₹ 17,545 crores in the corresponding quarter of the previous fiscal. The refinery`s exports, including high sea sales and deemed exports during the fourth quarter, stood at Rs 3,903 crore.
Mangalore Refinery will enter into agreements with oil marking firms to boost its domestic sales. It is also is setting up its own retail outlets to capture the retail margins.
On the NSE, Mangalore Refinery opened at ₹ 52.50, registering an intraday high of ₹ 52.70 and an intraday low of ₹ 51.30, in the session so far. It was the last trading 1.79 percent lower at ₹ 52 on the NSE.
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